page_title: Liao dynasty coinage
section_title: Move towards a money-based economy
hierarchical_section_title: Liao dynasty coinage / History / Move towards a money-based economy
caption_attribution_description: Une monnaie en bronze d'une sapèque de l'empereur Dao Zong (1055-1101), ère Qing Ning (1055-1064) de la dynastie Liao (907-1125). A/ Qing Ning tong bao (Monnaie courante de Qing Ning) R/ vide Dimension&#160;: 25 mm Poids&#160;: 2,93 mm Remarque&#160;: La dynastie Liao n'est pas une dynastie chinoise mais une dynastie gouvernant l'empire Khitan, situé au Nord-Est de la Chine. Les livres chinois d'histoire parle de ces tribus depuis le IIIe et IVe siècle. Les Khitans seraient issus des Xianbei. Ils sont tributaires de la Chine des Tang. La dynastie a été fondée par Yelü Abaoji (872-926) qui deviendra l'empereur Liao Taizu (907-926). En 1055, l'empereur Xingzong (1031-1055) meurt et son fils ainé, Yelü Hongji, devient empereur sous le nom de Daozong. Son règne est surtout marqué par une rébellion en 1063 et un complot mené par le chancelier Yelü Yixin entre 1072 et 1079 ainsi qu'une guerre entre 1092 et 1102 contre des Tatars appelés Zubu. La dynastie Liao est détruite par la dynastie Jin en 1125. Référence&#160;: H18.12, S1066 Indice de rareté&#160;: 9, assez commune d'après D.Hartill
context_page_description: The Liao dynasty was an empire created by the Khitans that ruled over parts of Northern China, what is now Manchuria, and an area in present-day Mongolia, North Korea, and the Russian Far East from 907 until 1125 when most of their territory conquered by the Jurchens who established the Jin dynasty. The Khitans fled westward and created the Western Liao dynasty which in turn was annexed by the Mongol Empire in 1218.
  Liao dynasty coins were based on the cash coins of the Song dynasty but generally tend to be of inferior quality, early Liao dynasty coins were only scarcely produced and it wasn't until the reign of Emperor Xingzong.
  Liao dynasty coins can be read top-right-bottom-left, but unlike the Song's coinage never appeared top-bottom-right-left. Liao dynasty era coins have appeared in both Chinese and Khitan scripts. The coins in Khitan script do tend to have different character orders, Though these coins weren't meant for circulation.
  Liao coinage is extremely rare compared to Song dynasty coinage, while the Song dynasty produced millions of strings of wén annually, the Khitans never exceeded 500.
context_section_description: By the end of the 10th century more copper mines had opened and an abundance of old coins were found which lead to the increase of coins in circulation, under Daozong the production of coinage had risen to 500 strings a year (or 500,000 cash coins). Many Song dynasty copper coins started entering the Liao dynasty, often as payments for salt and other Liao export products. Copper coin from the Song dynasty were exchanged with the Liao's iron coins at the border region set up as a protective measure to prevent the more valuable copper Liao coinage from leaving the country.
  By the beginning of the 12th century more Song coins circulated in the Liao dynasty than native coinage, this also applied to the northern regions where previously Chinese coinage had remained scarce, this was evident by the fact that the Dongjing circuit was able to collect 400,000,000 cash coins as part of its 10% tax programme (despite it suffering from lowered export due to the Liao's anti-Balhae policies), proving that the influx of Song dynasty currency was more responsible for creating a money-based economy than the Liao government's own efforts. Similarly the Zhongjing circuit once collected 200,000,000 within 6 months, while Xijing's income remained insignificant. Nanjing (present day Beijing) was the wealthiest region having an annual income of 5,492,906,000 cash coins as reported in 1123 on a tax of 10%.
  Though it's more likely that these tax incomes were considerably smaller as these numbers were inflated due to the government collecting more tax for its military expenditures as its peace-time income was significantly lower. Another likelihood that these numbers are inflated is that barter still prevailed n the tribal region of the Liao (all circuits except for Nanjing), and during an economic crisis in Nanjing in 1118 payments were made in silk rather than in copper coins.
caption: A Qing Ning Tong Bao (Chinese: 清寧通寳) coin, a Liao dynasty coin with Chinese inscription.
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